Wednesday, October 10, 2012

Message from David Siegel

As most of you know our company, Westgate Resorts, has continued to
succeed in spite of a very dismal economy. There is no question that the
economy has changed for the worse and we have not seen any improvement
over the past four years. In spite of all of the challenges we have
faced, the good news is this: The economy doesn't currently pose a
threat to your job. What does threaten your job however, is another 4
years of the same Presidential administration. Of course, as your
employer, I can't tell you whom to vote for, and I certainly wouldn't
interfere with your right to vote for whomever you choose. In fact, I
encourage you to vote for whomever you think will serve your interests
the best.

Now, the economy is falling apart and people like me who made all the
right decisions and invested in themselves are being forced to bail out
all the people who didn't. The people that overspent their paychecks
suddenly feel entitled to the same luxuries that I earned and sacrificed
42 years of my life for. Yes, business ownership has its benefits, but
the price I've paid is steep and not without wounds. Unfortunately, the
costs of running a business have gotten out of control, and let me tell
you why: We are being taxed to death and the government thinks we don't
pay enough. We pay state taxes, federal taxes, property taxes, sales and
use taxes, payroll taxes, workers compensation taxes and unemployment
taxes. I even have to hire an entire department to manage all these
taxes. The question I have is this: Who is really stimulating the
economy? Is it the Government that wants to take money from those who
have earned it and give it to those who have not, or is it people like
me who built a company out of his garage and directly employs over 7000
people and hosts over 3 million people per year with a great vacation?

Obviously, our present government believes that taking my money is the
right economic stimulus for this country. The fact is, if I deducted 50%
of your paycheck you'd quit and you wouldn't work here. I mean, why
should you? Who wants to get rewarded only 50% of their hard work? Well,
that's what happens to me.

Business is at the heart of America and always has been. To restart it,
you must stimulate business, not kill it. However, the power brokers in
Washington believe redistributing wealth is the essential driver of the
American economic engine. Nothing could be further from the truth and
this is the type of change they want.

So where am I going with all this? It's quite simple. If any new taxes
are levied on me, or my company, as our current President plans, I will
have no choice but to reduce the size of this company. Rather than grow
this company I will be forced to cut back. This means fewer jobs, less
benefits and certainly less opportunity for everyone.

So, when you make your decision to vote, ask yourself, which candidate
understands the economics of business ownership and who doesn't? Whose
policies will endanger your job? Answer those questions and you should
know who might be the one capable of protecting and saving your job.
While the media wants to tell you to believe the "1 percenters" are bad,
I'm telling you they are not. They create most of the jobs. If you lose
your job, it won't be at the hands of the "1%"; it will be at the hands
of a political hurricane that swept through this country.

You see, I can no longer support a system that penalizes the productive
and gives to the unproductive. My motivation to work and to provide
jobs will be destroyed, and with it, so will your opportunities. If that
happens, you can find me in the Caribbean sitting on the beach, under a
palm tree, retired, and with no employees to worry about.
Signed, your boss,
David Siegel

For those unfamiliar with Siegel, he is the founder and CEO of Westgate Resorts, a real estate and timeshare company. He and his wife were also the subject of the recent documentary "The Queen of Versailles" about their desire to build the largest home in America. According to Gawker, they were worth over a billion dollars in 2007,
but that could be less now as a result of the real estate bust.